Fox Bet was a sports betting platform established in 2019 through a collaboration between Fox Corporation and The Stars Group. The platform aimed to leverage Fox’s media presence to offer both free-to-play games and real-money wagering in states where sports betting was legalized. Despite the initial investment and branding efforts, Fox Bet faced challenges in gaining significant market share, leading to its closure by August 31, 2023. Following the shutdown, Fox Corporation retained the Fox Bet brand and announced plans to introduce a new Fox Super 6 game, continuing its engagement in the gaming sector.
Highlights
Fox Bet was a sports betting platform launched in 2019 through a partnership between Fox Corporation and The Stars Group.
The platform offered both free-to-play games and real-money wagering in states with legalized sports betting.
Fox Corporation invested $236 million for a 4.99% stake in The Stars Group as part of the partnership.
Fox Bet ceased operations by August 31, 2023, due to challenges in capturing market share.
Fox Corporation retained the Fox Bet brand and plans to launch a new Fox Super 6 game.